Best Buy Co. Inc. (NYSE: BBY) reported first quarter 2022 earnings results today.
Enterprise revenues increased to $11.6 billion from $8.5 billion in the same period a year ago. Enterprise comparable sales rose 37.2%.
Net income was $595 million, or $2.32 per share, compared to $159 million, or $0.61 per share, last year. Adjusted EPS amounted to $2.23.
Both revenue and adjusted EPS surpassed market estimates.
For the second quarter of 2022, enterprise comparable sales are expected to grow approx. 17%. For the full year of 2022, enterprise comparable sales are expected to grow 3-6%.
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